Ah, the crypto market! A veritable rollercoaster of emotions, where fortunes are made and lost faster than you can say “bear market.” This week, Bitcoin led the charge into the abyss, dragging along its poor altcoin companions, particularly the meme coins, which seem to be auditioning for a tragic play as they inch ever closer to new all-time lows. π’
Our dear friends at BeInCrypto have taken a magnifying glass to three of these meme coins, revealing the varying degrees of despair in this theatrical performance: some have hit weekly lows, while others have taken a dramatic plunge. π
Brett (BRETT)
Oh, darling BRETT! It had the audacity to gain a delightful 9% over the week, only to lose it all faster than a bad date on Friday. Currently, itβs trading at a rather sad $0.0379, just below the local resistance of $0.0429. π©
Our little meme coin is grappling with the broader bearish market conditions, making it as difficult to rise as a soufflΓ© in a thunderstorm. Yet, with a sprinkle of sustained interest, a rise above resistance could still be on the cards! π©
The primary target for our dear BRETT is to breach $0.0478 and transform it into support after a 17% rise. A task as challenging as finding a decent cup of tea in a foreign land, with previous attempts failing spectacularly over the past month. β
If BRETT can manage to flip $0.0478 into support, it might just pave the way for further growth, potentially pushing it above the illustrious $0.0500. π
However, should BRETT fail to break through $0.0429, it could retrace to $0.0372, and falling below this level would be akin to a tragic ending, invalidating the current bullish outlook and sending it down to $0.0348. π±
Goatseus Maximus (GOAT)
Ah, GOAT! The once-mighty has faced a relentless downtrend since the dawn of the year, currently trading at a pitiful $0.0634. This prolonged decline has wiped out nearly all of its previous gains, leaving it as desolate as a forgotten stage. π
At present, GOAT is teetering just above its all-time low (ATL) of $0.0601, having suffered a staggering 37% decline over the past week. If the market conditions remain as dreary as a rainy day in London, we could see it drop below $0.0600, marking a new ATL and deepening its losses. π§οΈ
But fear not! If GOAT receives a sprinkle of support from bullish investors or if the market sentiment decides to play nice, it could stage a recovery worthy of a standing ovation. π
The target for our beleaguered meme coin would be $0.1104, and if it manages to breach this resistance, the bearish outlook could be invalidated, allowing GOAT to recover from its recent misfortunes. π
OFFICIAL TRUMP (TRUMP)
And then we have TRUMP, who initially leapt to a dazzling $13.11 this week before plummeting to $12.28 on Friday. This meme coin has managed to cling to the key support level of $12.10, indicating a stabilizing trend amidst the market’s tempestuous waves. π
This support level is as critical as a good punchline in a comedy routine. π€
While TRUMP reached an intra-week high of $17.14, it has struggled to maintain its upward momentum, with the ongoing downtrend and prevailing bearish market conditions pulling it back down like a lead balloon. π
Looking ahead, TRUMP is likely to consolidate between $17.14 and $12.41, with these levels marking significant resistance and support. π
The only way this neutral outlook is invalidated is if TRUMP falls below $12.41
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2025-03-08 04:51